WESCO International, Inc. (NYSE:WCC) Files An 8-K Entry into a Material Definitive AgreementItem 1.01
Entry into a Material Definitive Agreement.
On November 8, 2017, WESCO Distribution, Inc. ("WESCO Distribution") amended its accounts receivable securitization facility (the "Receivables Facility") to the terms and conditions of a Fifth Amendment to Fourth Amended and Restated Receivables Purchase Agreement, by and among WESCO Receivables Corp. (“WESCO Receivables”), WESCO Distribution, the various purchasers from time to time party thereto and PNC Bank, National Association, as Administrator (the "Amendment").
The Amendment extends the term of the Receivables Facility to September 24, 2020 and adds and amends certain other defined terms. Substantially all other terms and conditions of the Receivables Facility remain unchanged.
Certain of the purchasers under the Receivables Facility have in the past provided, are currently providing and may in the future provide advisory and lending services to, or engage in transactions with, WESCO International, Inc. (the "Company") and its subsidiaries or affiliates (including through certain subsidiaries or affiliates of such agents and lenders). The purchasers have received, and may in the future receive, customary compensation from the Company and its subsidiaries or affiliates for such services with respect to such transactions.
The foregoing is a summary of the material terms and conditions of the Amendment and not a complete discussion of the document. Accordingly, the foregoing is qualified in its entirety by reference to the full text of the Amendment attached to this Current Report on Form 8-K as Exhibit 10.1, which is incorporated herein by reference.
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Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The disclosures set forth above under Item 1.01 are hereby incorporated by reference into this Item 2.03.
Item 9.01Financial Statements and Exhibits.
(d) Exhibits.
WESCO INTERNATIONAL INC ExhibitEX-10.1 2 wcc-5thamendmentto4thrpa.htm EXHIBIT 10.1 Exhibit EXECUTION VERSIONFIFTH AMENDMENT TO FOURTH AMENDED AND RESTATEDRECEIVABLES PURCHASE AGREEMENTTHIS FIFTH AMENDMENT TO FOURTH AMENDED AND RESTATED RECEIVABLES PURCHASE AGREEMENT (this “Amendment”),…To view the full exhibit click here
About WESCO International, Inc. (NYSE:WCC)
WESCO International, Inc. is a distributor of products and provider of supply chain management and logistics services used in industrial, construction, utility and commercial, institutional and government (CIG) markets. The Company is a provider of electrical, industrial and communications maintenance, repair and operating (MRO) and original equipment manufacturers (OEM) products, construction materials, and supply chain management and logistics services. Its primary product categories include general electrical and industrial supplies, wire, cable and conduit, data and broadband communications, power distribution equipment, lighting and lighting control systems, control and automation, motors, and safety. It offers a portfolio of capabilities, which includes supply chain management, logistics and transportation, procurement, warehousing and inventory management, as well as kitting, limited assembly of products and system installation. It serves over 80,000 customers across the globe.
